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All main topics / Law / International Law / LAW
42
Web Design, Inc., is a close corporation. Web Design is

a. eligible to make public offerings of securities.
b. exempt from corporate duties such as filing a certificate of incorporation.
c. generally allowed to restrict transfer of stock.
d. taxed in the same manner as a partnership.
c. generally allowed to restrict transfer of stock.

Begr√ľndung:
To avoid Managment problems (if shareholders transfer shares to a unknown person, the other partner could feel "unhappy" about sharing control with him/her) the transfer can be restricted by the articles of oncorporation
Tags: Restriction in the Articles of Incorpration
Source: p.101, 1. Absatz des Kapitels
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Flashcard info:
Author: Elisa
Main topic: Law
Topic: International Law
School / Univ.: Hanze Hogeschool
City: Groningen
Published: 14.02.2010

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